Protalix BioTherapeutics said recently it has sold its 40%-share in the collaboration agreement for the marketed Type 1 Gaucher disease treatment ELELYSO™ (taliglucerase alfa) to its commercialization partner Pfizer, which will also take a 6% equity stake in Protalix. The deals are valued at a total $46 million.

Protalix said it will use the proceeds to “aggressively” advance its clinical pipeline and execute a new strategy of developing “clinically superior” biologics.

Pfizer will now be responsible for all expenses, and will be entitled to all revenues, globally for ELELYSO—except in Brazil, where Protalix will be responsible for all expenses and retain all revenues.

Under the companies’ initial collaboration agreement, Pfizer and Protalix shared revenues and expenses for the development and commercialization of ELELYSO on a 60/40% basis globally, excluding in Israel and Brazil.

“The funds we are receiving from the overall transaction, totaling $46 million, will yield a strong pro forma cash balance for the company of approximately $80 million as of September 30, 2015 enabling us to aggressively push our clinical pipeline forward and concentrate on our new strategy of developing clinically superior biologics," Protalix President and CEO Moshe Manor said in a statement.